Adidas: in talks with KfW Bank?
(CercleFinance.com) - Adidas is said to be looking for over one billion euros in German government aid to deal with the Covid-19 crisis, according to Bloomberg.
The group appears to be in talks with the public bank KfW for this funding. It would like aid of between one and two billion euros, Bloomberg says. The final amount and the payment schedule have not yet been decided, Bloomberg says.
The sporting goods group announced this week that it has renounced its decision to no longer pay its rents in Germany. On Tuesday evening it also announced the suspension of his share buybacks for the rest of the year, in order to preserve its financial leeway in the face of the coronavirus pandemic.
Thus, the German group will not deploy the one billion euros that it intended to pay to buy shares in 2020. As a reminder, two weeks ago it closed its sales outlets in Europe and North America.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The group appears to be in talks with the public bank KfW for this funding. It would like aid of between one and two billion euros, Bloomberg says. The final amount and the payment schedule have not yet been decided, Bloomberg says.
The sporting goods group announced this week that it has renounced its decision to no longer pay its rents in Germany. On Tuesday evening it also announced the suspension of his share buybacks for the rest of the year, in order to preserve its financial leeway in the face of the coronavirus pandemic.
Thus, the German group will not deploy the one billion euros that it intended to pay to buy shares in 2020. As a reminder, two weeks ago it closed its sales outlets in Europe and North America.
Copyright (c) 2020 CercleFinance.com. All rights reserved.